Earnings Estimates Moving Higher for Celestica (CLS): Time to Buy?

Core Viewpoint - Celestica (CLS) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][2]. Earnings Estimate Revisions - The rising trend in earnings estimate revisions reflects growing analyst optimism regarding Celestica's earnings prospects, which is expected to positively impact its stock price [2]. - For the current quarter, Celestica is projected to earn $1.45 per share, representing a 39.4% increase from the previous year, with a 14.96% rise in the Zacks Consensus Estimate over the last 30 days [7]. - For the full year, the earnings estimate is $5.55 per share, indicating a 43.0% increase from the prior year, with three estimates moving up and no negative revisions [8]. Zacks Rank and Performance - Celestica has achieved a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, which historically correlate with strong stock performance [9]. - Stocks with Zacks Rank 1 and 2 significantly outperform the S&P 500, indicating a strong potential for Celestica's stock [9]. Recent Stock Performance - Celestica shares have increased by 30.8% over the past four weeks, suggesting investor confidence in the company's earnings growth prospects [10].